The long and winding road

Article Abstract:

The bid for Danish construction company Phonix Contractors by diversified company Rieber and Son of Norway in January 1997 was the first unsolicited offer in Denmark and is evidence that changes are occurring in the Danish stock market. The DKr721 million bid was finalized in March 1997. Phonix, with few industrial investors, was a prime target for such a bid and its successful acquisition is expected to increase activity among Denmark's listed companies.

Diversified Companies, Building, Developing, and General Contracting, Contract Construction, Construction industry, Conglomerate corporations, Denmark, Mergers, acquisitions and divestments, Construction contracts, Rieber and Son A/S, Phonix Contractors

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Untested and not legally binding - will it work?

Article Abstract:

The German stock-exchange introduced a takeover code in 1995 and by May, 1996, more than 50% of listed companies had agreed to abide by the new rules, even though they remain untested and are not legally binding. The new rules are similar to the London City Code on Takeovers and Mergers. Details of the code are discussed.

Laws, regulations and rules, Germany, Acquisitions and mergers, Stock-exchange, Stock exchanges

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